Hold Lakshmi Energy, target of Rs 286: Parag Parikh

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Hold Lakshmi Energy, target of Rs 286: Parag Parikh

Parag Parikh Financial Advisory Services has recommended a hold rating on Lakshmi Energy and Foods (LEAF) with a target of Rs 286. The research firm feels that the company will be successful in gradually scaling up the sale of its branded products.

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Parag Parikh Financial Advisory Services has recommended a hold rating on Lakshmi Energy and Foods (LEAF) with a target of Rs 286 in its research report. "LEAF has successfully launched its packaged products in the cities of Hyderabad & Nagpur.We feel that the company will be successful in gradually scaling up the sale of its branded products. The scrip is trading at 10x current year estimated EPS of Rs 26.5 and < 8x its FY10E earnings. We currently value the scrip at Rs 286 (8.5x FY10E EPS of Rs 33.4). We are positive on the long-term prospects of the company and recommend HOLD," says Parag Parikh Financial Advisory Services' research report.

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To read the full report click on the attachment.....